South Korean shares opened sharply higher Wednesday, tracking an overnight rally on Wall Street led by positive economic indices that fueled optimism for a global economic rebound.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.92 points, or 1.06 percent, to 2,373.16 in the first 15 minutes of trading.

Bucking a 2.46 percent plunge in the previous session, the KOSPI started out bullish despite lingering concerns over a resurgence of new coronavirus infections.

The index took a cue from major US stock indices, buoyed by a steep rebound in housing data and advances by tech giants, including Tesla.

The S&P 500 jumped 0.23 percent to an all-time high of 3,389.78 points Tuesday (New York time), with a 0.73 hike for the Nasdaq Composite. The Dow Jones Industrial Average slid 0.24 percent.

Most large caps traded higher in Seoul.

Market bellwether Samsung Electronics added 0.68 percent, while No. 2 chipmaker SK hynix dipped 1.92 percent.

Top pharmaceutical firm Samsung Biologics gained 1.87 percent, and Celltrion jumped 2.3 percent.

Leading chemical maker LG Chem rose 0.58 percent, and rechargeable battery maker Samsung SDI stayed flat.

Hyundai Motor, the country's largest automaker, added 1.27 percent.

Internet portal giant Naver advanced 0.98 percent, and its rival Kakao added 1.06 percent.

The local currency was trading at 1,181.60 won against the US dollar, up 2.1 won from the previous session's close. (Yonhap)